According to Lessard and Lorange, the ________ rate refers to the spot exchange rate when the budget is adopted.

Question

Quizplus · Accepted Answer

Lessard and Lorange point out three exchange rates that can be used to translate foreign currencies into the corporate currency in setting budgets and in the subsequent tracking of performance. One of them is the initial rate, the spot exchange rate when the budget is adopted.

According to Lessard and Lorange, the ________ Rate Refers to the Spot